On December 1, 2020, Bonita Company had the following account balances. Debit Credit Cash $17,600 Accumulated Depreciation-Equipment $2,900 2,000 Accounts Payable 6,200 Notes Receivable Accounts Receivable 7,600 Owner's Capital 62,000 Inventory 15,200 $71,100 1,500 Prepaid Insurance Equipment 27,200 $71,100 During December, the company completed the following transactions. Dec 7 12 Received $3,700 cash from customers in payment of account (no discount allowed) Purchased merchandise on account from Vance Co. $11,800, terms 1/10, 1/30 Sold merchandise on account $15.500, terms 2/10, 1/30. The cost of the merchandise sold was $9,400. Paid salaries $2,300 17 19 22 Paid Vance Co. in full, less discount 26 Received collections in full, less discounts from customers billed on December 17 Received $2,800 cash from customers in payment of account in discount allowed) 31 Adjustment data: 1. Depreciation $210 per month. . 2. Insurance expired $390. Journalize the December transactions. (Assume a perpetual inventory system.) (Credit account titles are automatically indente when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit c Dec. 7 Cash 3700 Accounts Receivable Dec. 12 V Inventory 11800 Accounts Payable Dec 17 Accounts Receivable 15500 Sales Revenue (To record sales) 9400 Dec 19 Cost of Goods Sold Inventory (To record cost of goods sold)